How Many Fortune 100s Have Cyber Insurance?
EY reports it surveyed the SEC filings of 74 Fortune 100 companies and 51% had cyber security insurance. That’s up from 43% in 2021. Report includes interesting statistics on cyber…
Got an Opinion on Whether the Feds Should Have a Cyber Insurance Program? Now’s Your Time to Comment
“Should an existing federal insurance program (e.g., NFIP or TRIP) or other U.S. or international public-private insurance mechanisms serve as a model for, or be modified to address, catastrophic cyber…
75% of Respondents Know They Need Cyber Insurance, But Far Fewer Say They Have It: Travelers Risk Index
Potential good news for cyber insurers: Awareness of need is high and perhaps sales will catch up to it… “Nearly 75% of respondents said they believe having a cyber insurance…
Ransomware Has CISOs on the Defensive; Cyber Insurance a Fallback
The statistics on how many CISOs have been hit by two to five ransomware attacks are sobering. “More organizations ‘have implemented ‘Plan B’ measures this year, from opening cryptocurrency accounts…
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Better Not Fib on Your Cyber Application — Insurers Clamp Down on Accuracy of Clients’ Self-Attestations of Security Controls
A hacked company claimed damages but was sued and had its coverage voided for falsely claiming it had MFA… “‘The lawsuits and the rescinding of coverage, the calling out of…
Why Did the White House Decide NOT to Ban Ransomware Payments?
“’It is so hard and so much more work needs to be done to improve the security of tech, to improve the cybersecurity of systems, that we’d essentially be pressing…
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Lawsuit Against KeyBank Harbinger of Emerging Cyber Liability Dynamics
“If this federal court case proceeds, and gains class-action status that the litigants are seeking, it could further alter already evolving compliance and liability concerns for banks and other U.S….
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Report from Oregon: Cyber Insurance Rates Soar for Towns & Cities
(TV station) KGW asked 20 of the largest cities in Oregon for a copy of their cyber insurance policies. Eighteen cities had coverage. Two did not — McMinnville and Redmond….
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Feds: Uber’s Ex-Security Chief Covered Up Hack and Deserves Criminal Punishment
“(F)ederal prosecutors alleged that in an attempt to cover up the security violation, (then Uber security executive Joe) Sullivan had ‘instructed his team to keep knowledge of the 2016 Breach…
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Avoid These Technologies If You Want Cheaper Cyber Insurance
“…enterprises can control the costs by being more intelligent about risk selection regarding the products and technologies in their environment. Coalition rates are based on certain technologies, which means it’s…
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